What is the Sherman Silver Act 1890?

The Sherman Silver Purchase Act of 1890 was a U.S. law that aimed to bolster the economy by increasing the government’s purchase of silver. It required the U.S. Treasury to buy 4.5 million ounces of silver each month, thereby increasing the money supply and supporting the silver mining industry. The Act was a compromise between silver supporters and those favoring gold, but it ultimately failed to stabilize the economy and was repealed in 1893 amid financial turmoil. The legislation reflected the broader debate over monetary policy and the gold versus silver standard during that era.